[PPT] - Competition Law Strategies: - Protect Your Brand - - Protect Your PowerPoint Presentation

SLIDE 1

Competition Law Strategies:

Protect Your Brand -
Protect Your Retail Partners -
Protect Your Revenue -

Luxury Law New York Summit David Hull

14 November 2018

Brussels, Geneva

SLIDE 2

SLIDE 3 ✁ ✂ ✄ ☎ ✆ ✝ ✆ ✞ ✟ ✟ ✠ ✡ ✞ ✆ ✆ ✠ ☛ ☞ ✠ ☞ ✌ ✟ ☎ ✡ ✠ ✍ ✎ ☎ ✄ ✠ ☞ ✏ ✆ ☎ ☛ ☎ ✆ ✝ ✆ ✌ ✟ ☎ ✡ ✠ ✍ ✑ ✂ ☛ ✌ ✟ ☎ ✡ ✠ ✂ ☞ ✒ ✠ ✟ ✓ ☎ ✍ ☎ ☛ ✔ ✕ ✖ ✍ ✞ ✗ ✝ ✓ ✠ ✞ ☛ ✗ ☎ ☛ ✠ ✍ ✂ ✗ ✠ ✍ ✖ ✂ ☛ ✘ ✠ ✍ ✓ ✟ ☎ ✡ ✓ ✝ ✍ ✠ ✞ ✙ ✖ ✟ ✂ ☛ ☞ ☛ ✂ ✆ ✠ ☎ ☛ ✕ ☞ ✚ ✞ ✟ ☞ ✍ ✘ ✠ ✍ ✓ ✟ ☎ ✡ ✓ ✝ ✍ ✠ ✞ ✙ ✌ ✟ ☎ ✡ ✠ ✡ ✞ ✆ ✌ ✂ ✟ ☎ ✍ ✞ ☛ ✍ ☎ ✓ ✠ ✍ ✑ ✂ ☛ ✓ ✛ ☎ ✟ ☞ ✌ ✂ ✟ ✓ ✜ ✌ ✗ ✂ ✓ ✙ ✞ ✟ ✆ ✍ ✢ ✞ ☛ ✓ ✟ ✞ ✗ ✗ ✞ ✡ ✂ ✓ ☎ ✞ ☛ ✣ ✍ ✛ ✞ ✌ ✞ ✟ ✚ ✂ ✟ ✠ ✛ ✞ ✝ ✍ ✠ ✤ ✥ ☎ ✆ ☎ ✓ ☎ ☛ ✔ ✞ ✓ ✛ ✠ ✟ ✓ ✜ ✌ ✠ ✍ ✞ ✙ ✌ ✟ ✞ ☞ ✝ ✡ ✓ ✍ ✍ ✞ ✗ ☞ ✂ ✓ ✟ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✦ ✧ ★ ✩ ★ ✧ ✩ ✪ ✫ ✬ ✭ ✮ ✯ ✰ ✱ ✱ ✰ ✧ ✲ ✰ ✭ ✯ ✳ ✯ ✰ ✲ ✰ ✴ ✪ ✮ ✵ ✰ ✱ ✮ ✯ ✪ ✭ ✮ ✶ ✩ ✪ ✮ ✬ ★ ✷ ✸ ✧ ★ ✩ ✹ ✧ ✴ ✪ ✩ ✭ ✰ ✭ ✯ ✰ ✲ ✲ ✮ ★ ✺ ✱ ✮ ✭ ✰ ✴ ✪ ✲ ✻ ✪ ✬ ✴ ✬ ★ ✯ ✩ ✼ ✰ ✭ ✯ ✽ ✾ ✿ ❀ ❁ ❂ ❃ ❀ ❄ ❂ ❅ ❆ ❇ ❂ ❈ ❅ ❉ ❊ ❂ ❈ ❋ ❉

✿

❅ ❅ ❊ ❇ ✿ ❃ ❀ ❂ ❃ ❆ ❀ ❂ ❄

❆

❆

❅

❅ ❋ ❃ ❍ ❊ ❂ ❈ ❄ ■ ❄ ❂ ❉ ❈ ❁ ❀ ❆ ❋ ❃ ❂ ❄ ❉

❄

❀ ❂ ■ ❄ ❂ ❀

❁

❀ ❊ ❂ ❈ ❄ ❏ ❄ ✿ ❃ ❉ ❋ ❑ ✿ ❍

▲

▼ ✽ ✾ ✿ ❀ ❁ ❂ ❃ ❀ ❄ ❂ ❅ ❆ ❇ ❂ ❈ ❅ ❉ ❊ ❂ ❈ ❋ ❉

✿

❅ ❅ ❊ ❇ ✿ ❃ ❀ ❂ ❃ ❆ ❀ ❂ ❄

❆

❆

❅

❅ ❋ ❃ ❍ ❊ ❂ ❈ ❄ ■ ❄ ❂ ❉ ❈ ❁ ❀ ❆ ❋ ❃ ❂ ❄ ❉

❄

❀ ❂ ■ ❄ ❂ ❀

❁

❀ ❊ ❂ ❈ ❄ ❏ ❄ ✿ ❃ ❉ ❋ ❑ ✿ ❍

▲

SLIDE 4 ✸ ✧ ★ ✩ ✹ ✧ ✴ ✪ ✩ ✭ ✰ ✭ ✯ ✰ ✲ ✲ ✮ ★ ✺ ✱ ✮ ✭ ✰ ✴ ✪ ✲ ✻ ✪ ✬ ✴ ✬ ★ ✯ ✩ ✼ ✰ ✭ ✯ ✽ ✾ ✿ ❀ ❁ ❂ ❃ ❀ ❄ ❂ ❅ ❆ ❇ ❂ ❈ ❅ ❉ ❊ ❂ ❈ ❋ ❉

✿

❅ ❅ ❊ ❇ ✿ ❃ ❀ ❂ ❃ ❆ ❀ ❂ ❄

❆

❆

❅

❅ ❋ ❃ ❍ ❊ ❂ ❈ ❄ ■ ❄ ❂ ❉ ❈ ❁ ❀ ❆ ❋ ❃ ❂ ❄ ❉

❄

❀ ❂ ■ ❄ ❂ ❀

❁

❀ ❊ ❂ ❈ ❄ ❏ ❄ ✿ ❃ ❉ ❋ ❑ ✿ ❍

▲

◆

SLIDE 5 ✽ ✾ ✿ ❀ ❁ ❂ ❃ ❀ ❄ ❂ ❅ ❆ ❇ ❂ ❈ ❅ ❉ ❊ ❂ ❈ ❋ ❉

✿

❅ ❅ ❊ ❇ ✿ ❃ ❀ ❂ ❃ ❆ ❀ ❂ ❄

❆

❆

❅

❅ ❋ ❃ ❍ ❊ ❂ ❈ ❄ ■ ❄ ❂ ❉ ❈ ❁ ❀ ❆ ❋ ❃ ❂ ❄ ❉

❄

❀ ❂ ■ ❄ ❂ ❀

❁

❀ ❊ ❂ ❈ ❄ ❏ ❄ ✿ ❃ ❉ ❋ ❑ ✿ ❍

▲

✢ ✞ ☛ ✓ ✟ ✞ ✗ ✗ ✞ ✡ ✂ ✓ ☎ ✞ ☛ ✣ ✍ ✛ ✞ ✌ ✞ ✟ ✚ ✂ ✟ ✠ ✛ ✞ ✝ ✍ ✠ ✤ ✥ ☎ ✆ ☎ ✓ ☎ ☛ ✔ ✞ ✓ ✛ ✠ ✟ ✓ ✜ ✌ ✠ ✍ ✞ ✙ ✌ ✟ ✞ ☞ ✝ ✡ ✓ ✍ ✍ ✞ ✗ ☞ ✂ ✓ ✟ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✦ ✧ ★ ✩ ★ ✧ ✩ ✪ ✫ ✬ ✭ ✮ ✯ ✰ ✱ ✱ ✰ ✧ ✲ ✰ ✭ ✯ ✳ ✯ ✰ ✲ ✰ ✴ ✪ ✮ ✵ ✰ ✱ ✮ ✯ ✪ ✭ ✮ ✶ ✩ ✪ ✮ ✬ ★ ✷ ✸ ✧ ★ ✩ ✹ ✧ ✴ ✪ ✩ ✭ ✰ ✭ ✯ ✰ ✲ ✲ ✮ ★ ✺ ✱ ✮ ✭ ✰ ✴ ✪ ✲ ✻ ✪ ✬ ✴ ✬ ★ ✯ ✩ ✼ ✰ ✭ ✯ ❖ P ◗ ❘ ❙ ❚ ❯ ❱ ❲ ❙ ❚ ❳ ❲ ❙ ◗ ❨ ❩ ❲ ❬ ❳ ❚ ◗ ❙ ❘ ❳ ❲ ❭ ❪

SLIDE 6 ✁ ✂ ✄ ☎ ✆ ✝ ✆ ✞ ✟ ✟ ✠ ✡ ✞ ✆ ✆ ✠ ☛ ☞ ✠ ☞ ✌ ✟ ☎ ✡ ✠ ✍ ✎ ☎ ✄ ✠ ☞ ✏ ✆ ☎ ☛ ☎ ✆ ✝ ✆ ✌ ✟ ☎ ✡ ✠ ✍ ✑ ✂ ☛ ✌ ✟ ☎ ✡ ✠ ✂ ☞ ✒ ✠ ✟ ✓ ☎ ✍ ☎ ☛ ✔ ✢ ✞ ☛ ✓ ✟ ✞ ✗ ✗ ✞ ✡ ✂ ✓ ☎ ✞ ☛ ✣ ✍ ✛ ✞ ✌ ✞ ✟ ✚ ✂ ✟ ✠ ✛ ✞ ✝ ✍ ✠ ✤ ✥ ☎ ✆ ☎ ✓ ☎ ☛ ✔ ✞ ✓ ✛ ✠ ✟ ✓ ✜ ✌ ✠ ✍ ✞ ✙ ✌ ✟ ✞ ☞ ✝ ✡ ✓ ✍ ✍ ✞ ✗ ☞ ✂ ✓ ✟ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✦ ✧ ★ ✩ ★ ✧ ✩ ✪ ✫ ✬ ✭ ✮ ✯ ✰ ✱ ✱ ✰ ✧ ✲ ✰ ✭ ✯ ✳ ✯ ✰ ✲ ✰ ✴ ✪ ✮ ✵ ✰ ✱ ✮ ✯ ✪ ✭ ✮ ✶ ✩ ✪ ✮ ✬ ★ ✷ ✸ ✧ ★ ✩ ✹ ✧ ✴ ✪ ✩ ✭ ✰ ✭ ✯ ✰ ✲ ✲ ✮ ★ ✺ ✱ ✮ ✭ ✰ ✴ ✪ ✲ ✻ ✪ ✬ ✴ ✬ ★ ✯ ✩ ✼ ✰ ✭ ✯ ✽ ✾ ✿ ❀ ❁ ❂ ❃ ❀ ❄ ❂ ❅ ❆ ❇ ❂ ❈ ❅ ❉ ❊ ❂ ❈ ❋ ❉

✿

❅ ❅ ❊ ❇ ✿ ❃ ❀ ❂ ❃ ❆ ❀ ❂ ❄

❆

❆

❅

❅ ❋ ❃ ❍ ❊ ❂ ❈ ❄ ■ ❄ ❂ ❉ ❈ ❁ ❀ ❆ ❋ ❃ ❂ ❄ ❉

❄

❀ ❂ ■ ❄ ❂ ❀

❁

❀ ❊ ❂ ❈ ❄ ❏ ❄ ✿ ❃ ❉ ❋ ❑ ✿ ❍

▲

❫

SLIDE 7 ✁ ✂ ✄ ☎ ✆ ✝ ✆ ✞ ✟ ✟ ✠ ✡ ✞ ✆ ✆ ✠ ☛ ☞ ✠ ☞ ✌ ✟ ☎ ✡ ✠ ✍ ✎ ☎ ✄ ✠ ☞ ✏ ✆ ☎ ☛ ☎ ✆ ✝ ✆ ✌ ✟ ☎ ✡ ✠ ✍ ✑ ✂ ☛ ✌ ✟ ☎ ✡ ✠ ✂ ☞ ✒ ✠ ✟ ✓ ☎ ✍ ☎ ☛ ✔ ✕ ✖ ✍ ✞ ✗ ✝ ✓ ✠ ✞ ☛ ✗ ☎ ☛ ✠ ✍ ✂ ✗ ✠ ✍ ✖ ✂ ☛ ✘ ✠ ✍ ✓ ✟ ☎ ✡ ✓ ✝ ✍ ✠ ✞ ✙ ✖ ✟ ✂ ☛ ☞ ☛ ✂ ✆ ✠ ☎ ☛ ✕ ☞ ✚ ✞ ✟ ☞ ✍ ✘ ✠ ✍ ✓ ✟ ☎ ✡ ✓ ✝ ✍ ✠ ✞ ✙ ✌ ✟ ☎ ✡ ✠ ✡ ✞ ✆ ✌ ✂ ✟ ☎ ✍ ✞ ☛ ✍ ☎ ✓ ✠ ✍ ✑ ✂ ☛ ✓ ✛ ☎ ✟ ☞ ✌ ✂ ✟ ✓ ✜ ✌ ✗ ✂ ✓ ✙ ✞ ✟ ✆ ✍ ✢ ✞ ☛ ✓ ✟ ✞ ✗ ✗ ✞ ✡ ✂ ✓ ☎ ✞ ☛ ✣ ✍ ✛ ✞ ✌ ✞ ✟ ✚ ✂ ✟ ✠ ✛ ✞ ✝ ✍ ✠ ✤ ✥ ☎ ✆ ☎ ✓ ☎ ☛ ✔ ✞ ✓ ✛ ✠ ✟ ✓ ✜ ✌ ✠ ✍ ✞ ✙ ✌ ✟ ✞ ☞ ✝ ✡ ✓ ✍ ✍ ✞ ✗ ☞ ✂ ✓ ✟ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✦ ✧ ★ ✩ ★ ✧ ✩ ✪ ✫ ✬ ✭ ✮ ✯ ✰ ✱ ✱ ✰ ✧ ✲ ✰ ✭ ✯ ✳ ✯ ✰ ✲ ✰ ✴ ✪ ✮ ✵ ✰ ✱ ✮ ✯ ✪ ✭ ✮ ✶ ✩ ✪ ✮ ✬ ★ ✷ ✸ ✧ ★ ✩ ✹ ✧ ✴ ✪ ✩ ✭ ✰ ✭ ✯ ✰ ✲ ✲ ✮ ★ ✺ ✱ ✮ ✭ ✰ ✴ ✪ ✲ ✻ ✪ ✬ ✴ ✬ ★ ✯ ✩ ✼ ✰ ✭ ✯ ✽ ✾ ✿ ❀ ❁ ❂ ❃ ❀ ❄ ❂ ❅ ❆ ❇ ❂ ❈ ❅ ❉ ❊ ❂ ❈ ❋ ❉

✿

❅ ❅ ❊ ❇ ✿ ❃ ❀ ❂ ❃ ❆ ❀ ❂ ❄

❆

❆

❅

❅ ❋ ❃ ❍ ❊ ❂ ❈ ❄ ■ ❄ ❂ ❉ ❈ ❁ ❀ ❆ ❋ ❃ ❂ ❄ ❉

❄

❀ ❂ ■ ❄ ❂ ❀

❁

❀ ❊ ❂ ❈ ❄ ❏ ❄ ✿ ❃ ❉ ❋ ❑ ✿ ❍

▲

❱ ❩ ❴ ❚ ❲ ❩ ❘ ❘ ❙ ❴ ❵ ❛ ❴ ❘ ❙ ❴ ❳ ❜ ◗ ❘ ❳ ❭ ❝

SLIDE 8 ✁ ✂ ✄ ☎ ✆ ✝ ✆ ✞ ✟ ✟ ✠ ✡ ✞ ✆ ✆ ✠ ☛ ☞ ✠ ☞ ✌ ✟ ☎ ✡ ✠ ✍ ✎ ☎ ✄ ✠ ☞ ✏ ✆ ☎ ☛ ☎ ✆ ✝ ✆ ✌ ✟ ☎ ✡ ✠ ✍ ✑ ✂ ☛ ✌ ✟ ☎ ✡ ✠ ✂ ☞ ✒ ✠ ✟ ✓ ☎ ✍ ☎ ☛ ✔ ✕ ✖ ✍ ✞ ✗ ✝ ✓ ✠ ✞ ☛ ✗ ☎ ☛ ✠ ✍ ✂ ✗ ✠ ✍ ✖ ✂ ☛ ✘ ✠ ✍ ✓ ✟ ☎ ✡ ✓ ✝ ✍ ✠ ✞ ✙ ✖ ✟ ✂ ☛ ☞ ☛ ✂ ✆ ✠ ☎ ☛ ✕ ☞ ✚ ✞ ✟ ☞ ✍ ✘ ✠ ✍ ✓ ✟ ☎ ✡ ✓ ✝ ✍ ✠ ✞ ✙ ✌ ✟ ☎ ✡ ✠ ✡ ✞ ✆ ✌ ✂ ✟ ☎ ✍ ✞ ☛ ✍ ☎ ✓ ✠ ✍ ✑ ✂ ☛ ✓ ✛ ☎ ✟ ☞ ✌ ✂ ✟ ✓ ✜ ✌ ✗ ✂ ✓ ✙ ✞ ✟ ✆ ✍ ✢ ✞ ☛ ✓ ✟ ✞ ✗ ✗ ✞ ✡ ✂ ✓ ☎ ✞ ☛ ✣ ✍ ✛ ✞ ✌ ✞ ✟ ✚ ✂ ✟ ✠ ✛ ✞ ✝ ✍ ✠ ✤ ✥ ☎ ✆ ☎ ✓ ☎ ☛ ✔ ✞ ✓ ✛ ✠ ✟ ✓ ✜ ✌ ✠ ✍ ✞ ✙ ✌ ✟ ✞ ☞ ✝ ✡ ✓ ✍ ✍ ✞ ✗ ☞ ✂ ✓ ✟ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✦ ✧ ★ ✩ ★ ✧ ✩ ✪ ✫ ✬ ✭ ✮ ✯ ✰ ✱ ✱ ✰ ✧ ✲ ✰ ✭ ✯ ✳ ✯ ✰ ✲ ✰ ✴ ✪ ✮ ✵ ✰ ✱ ✮ ✯ ✪ ✭ ✮ ✶ ✩ ✪ ✮ ✬ ★ ✷ ✸ ✧ ★ ✩ ✹ ✧ ✴ ✪ ✩ ✭ ✰ ✭ ✯ ✰ ✲ ✲ ✮ ★ ✺ ✱ ✮ ✭ ✰ ✴ ✪ ✲ ✻ ✪ ✬ ✴ ✬ ★ ✯ ✩ ✼ ✰ ✭ ✯ ✽ ✾ ✿ ❀ ❁ ❂ ❃ ❀ ❄ ❂ ❅ ❆ ❇ ❂ ❈ ❅ ❉ ❊ ❂ ❈ ❋ ❉

✿

❅ ❅ ❊ ❇ ✿ ❃ ❀ ❂ ❃ ❆ ❀ ❂ ❄

❆

❆

❅

❅ ❋ ❃ ❍ ❊ ❂ ❈ ❄ ■ ❄ ❂ ❉ ❈ ❁ ❀ ❆ ❋ ❃ ❂ ❄ ❉

❄

❀ ❂ ■ ❄ ❂ ❀

❁

❀ ❊ ❂ ❈ ❄ ❏ ❄ ✿ ❃ ❉ ❋ ❑ ✿ ❍

▲

❞

SLIDE 9 ❡ ❢ ❂ ❇ ❁ ✿ ❃ ❊ ❂ ❈ ❑ ✿ ❃ ✿ ❍

❁

❂ ❑ ■

❀

❋ ❀ ❋ ❂ ❃ ❏

❀

❇

❃

❊ ❂ ❈ ❄ ✿ ■ ■ ❂ ❋ ❃ ❀

❉

❄

❀

✿ ❋ ❅

❄

❆ ▲

SLIDE 10 ✘ ✠ ❣ ✝ ☎ ✟ ✠ ✟ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✍ ✓ ✞ ✌ ✠ ✟ ✙ ✞ ✟ ✆ ✍ ✠ ✟ ✒ ☎ ✡ ✠ ✍ ✞ ✟ ❤ ✠ ✠ ✌ ✍ ✓ ✞ ✡ ❤ ✥ ☎ ✆ ☎ ✓ ✍ ✂ ✗ ✠ ✍ ☎ ☛ ✓ ✞ ✓ ✠ ✟ ✟ ☎ ✓ ✞ ✟ ☎ ✠ ✍ ✞ ✟ ✡ ✝ ✍ ✓ ✞ ✆ ✠ ✟ ✍ ✞ ✙ ✞ ✓ ✛ ✠ ✟ ✟ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✍ ✢ ✞ ☛ ✓ ✟ ✞ ✗ ✗ ✞ ✡ ✂ ✓ ☎ ✞ ☛ ✍ ✓ ✞ ✗ ☎ ✆ ☎ ✓ ✞ ✒ ✠ ✟ ✗ ✂ ✌ ✍ ✑ ✂ ☛ ✐ ☛ ✓ ✠ ✟ ☛ ✠ ✓ ❥ ✞ ☛ ✗ ✜ ✟ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✍ ❢ ❂ ❇ ❁ ✿ ❃ ❊ ❂ ❈ ❑ ✿ ❃ ✿ ❍

❁

❂ ❑ ■

❀

❋ ❀ ❋ ❂ ❃ ❏

❀

❇

❃

❊ ❂ ❈ ❄ ✿ ■ ■ ❂ ❋ ❃ ❀

❉

❄

❀

✿ ❋ ❅

❄

❆ ▲ ❜ ❚ ❳ ❦ ❭ ❚ ❩ ❧ ❲ ❳ ♠ ❳ ❴ ❚ ♥ ❲ ❳ ❳ ❲ ❙ ♦ ❙ ❴ ❵ ♣ q

SLIDE 11 r s t ✉ ✈ s ✇ ① ② ③ ② s ④ t ✈ s ⑤ ⑥ ⑦ s ② ⑧ t ⑨ ✇ ③ ✉ t s ② s ② ✇ ⑩ ✘ ✠ ❣ ✝ ☎ ✟ ✠ ✟ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✍ ✓ ✞ ✌ ✠ ✟ ✙ ✞ ✟ ✆ ✍ ✠ ✟ ✒ ☎ ✡ ✠ ✍ ✞ ✟ ❤ ✠ ✠ ✌ ✍ ✓ ✞ ✡ ❤ ✥ ☎ ✆ ☎ ✓ ✍ ✂ ✗ ✠ ✍ ☎ ☛ ✓ ✞ ✓ ✠ ✟ ✟ ☎ ✓ ✞ ✟ ☎ ✠ ✍ ✞ ✟ ✡ ✝ ✍ ✓ ✞ ✆ ✠ ✟ ✍ ✞ ✙ ✞ ✓ ✛ ✠ ✟ ✟ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✍ ✎ ✞ ✟ ✡ ✠ ✞ ✟ ✂ ✍ ✍ ☎ ✍ ✓ ✟ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✍ ✓ ✞ ✂ ✗ ☎ ✔ ☛ ✌ ✟ ☎ ✡ ✠ ✍ ✕ ✌ ✌ ✞ ☎ ☛ ✓ ✟ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✍ ✂ ✍ ✂ ✔ ✠ ☛ ✓ ✍ ✥ ☎ ✆ ☎ ✓ ✍ ✝ ✌ ✌ ✗ ☎ ✠ ✍ ✓ ✞ ✘ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✍ ❶ ✄ ✡ ✗ ✝ ☞ ✠ ☞ ☎ ✍ ✟ ✝ ✌ ✓ ☎ ✒ ✠ ✟ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✍ ✑ ✂ ☛ ✍ ✂ ✗ ✠ ✍ ✞ ☛ ✌ ✗ ✂ ✓ ✙ ✞ ✟ ✆ ✍ ✢ ✞ ☛ ✓ ✟ ✞ ✗ ✗ ✞ ✡ ✂ ✓ ☎ ✞ ☛ ✍ ✓ ✞ ✗ ☎ ✆ ☎ ✓ ✞ ✒ ✠ ✟ ✗ ✂ ✌ ✍ ✑ ✂ ☛ ✐ ☛ ✓ ✠ ✟ ☛ ✠ ✓ ❥ ✞ ☛ ✗ ✜ ✟ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✍ ♣ ♣ ❢ ❂ ❇ ❁ ✿ ❃ ❊ ❂ ❈ ❑ ✿ ❃ ✿ ❍

❁

❂ ❑ ■

❀

❋ ❀ ❋ ❂ ❃ ❏

❀

❇

❃

❊ ❂ ❈ ❄ ✿ ■ ■ ❂ ❋ ❃ ❀

❉

❄

❀

✿ ❋ ❅

❄

❆ ▲ r s t ✉ ✈ s ✇ ① ② ③ ② s ④ t ✈ s ✈ ⑤ ⑥ ⑦ s ② ⑧ ② ⑧ ② ⑧ ⑧ ② ⑧ t s ② ⑧ t ⑨ ✇ ⑨ ✇ ⑨ ✇ ⑨ ✇ ⑨ ✇ ⑨ ✇ ⑨ ✇ ⑨ ✇ ⑨ ✇ ⑨ ✇ ⑨ ✇ ⑨ ✇ ⑨ ✇ ⑨ ③ ✉ ③ ✉ ③ ✉ ③ ✉ ③ ✉ ③ ✉ ✉ s t s t s s t s s t s s ② s ② s ② s ② s ② s s ② s s ② s ② s s ② s ② s ② s ② s s ② s ② s s ② s ② s ② ② ✇ ② ✇ ② ✇ ② ✇ ② ✇ ② ⑩ s ② ✉ ⑩ ③ ⑨ ✇ ✇ ③

SLIDE 12 ✘ ✠ ❣ ✝ ☎ ✟ ✠ ✟ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✍ ✓ ✞ ✌ ✠ ✟ ✙ ✞ ✟ ✆ ✍ ✠ ✟ ✒ ☎ ✡ ✠ ✍ ✞ ✟ ❤ ✠ ✠ ✌ ✍ ✓ ✞ ✡ ❤ ✥ ☎ ✆ ☎ ✓ ✍ ✂ ✗ ✠ ✍ ☎ ☛ ✓ ✞ ✓ ✠ ✟ ✟ ☎ ✓ ✞ ✟ ☎ ✠ ✍ ✞ ✟ ✡ ✝ ✍ ✓ ✞ ✆ ✠ ✟ ✍ ✞ ✙ ✞ ✓ ✛ ✠ ✟ ✟ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✍ ✎ ✞ ✟ ✡ ✠ ✞ ✟ ✂ ✍ ✍ ☎ ✍ ✓ ✟ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✍ ✓ ✞ ✂ ✗ ☎ ✔ ☛ ✌ ✟ ☎ ✡ ✠ ✍ ✕ ✌ ✌ ✞ ☎ ☛ ✓ ✟ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✍ ✂ ✍ ✂ ✔ ✠ ☛ ✓ ✍ ✥ ☎ ✆ ☎ ✓ ✍ ✝ ✌ ✌ ✗ ☎ ✠ ✍ ✓ ✞ ✘ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✍ ❶ ✄ ✡ ✗ ✝ ☞ ✠ ☞ ☎ ✍ ✟ ✝ ✌ ✓ ☎ ✒ ✠ ✟ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✍ ✑ ✂ ☛ ✍ ✂ ✗ ✠ ✍ ✞ ☛ ✌ ✗ ✂ ✓ ✙ ✞ ✟ ✆ ✍ ✢ ✞ ☛ ✓ ✟ ✞ ✗ ✗ ✞ ✡ ✂ ✓ ☎ ✞ ☛ ✍ ✓ ✞ ✗ ☎ ✆ ☎ ✓ ✞ ✒ ✠ ✟ ✗ ✂ ✌ ✍ ✑ ✂ ☛ ✐ ☛ ✓ ✠ ✟ ☛ ✠ ✓ ❥ ✞ ☛ ✗ ✜ ✟ ✠ ✓ ✂ ☎ ✗ ✠ ✟ ✍ ♣

❢

❂ ❇ ❁ ✿ ❃ ❊ ❂ ❈ ❑ ✿ ❃ ✿ ❍

❁

❂ ❑ ■

❀

❋ ❀ ❋ ❂ ❃ ❏

❀

❇

❃

❊ ❂ ❈ ❄ ✿ ■ ■ ❂ ❋ ❃ ❀

❉

❄

❀

✿ ❋ ❅

❄

❆ ▲

SLIDE 13 ✽ ✾ ✿ ❀ ❆ ❀

■

❆ ❁ ✿ ❃ ❊ ❂ ❈ ❀ ✿ ❷

❀

❂ ❅ ❋ ❑ ❋ ❀ ■ ✿ ❄ ✿ ❅ ❅

❅

❀ ❄ ✿ ❉

▲

♣ ▼

SLIDE 14 ❸ ☎ ✟ ✠ ✡ ✓ ✖ ✂ ☛ ✍ ✞ ☛ ✠ ✄ ✌ ✞ ✟ ✓ ✍ ✞ ✟ ✟ ✠ ✙ ✠ ✟ ✟ ✂ ✗ ✞ ✖ ✗ ☎ ✔ ✂ ✓ ☎ ✞ ☛ ✍ ❹ ✠ ☛ ✂ ✗ ☎ ❺ ☎ ☛ ✔ ✠ ✄ ✌ ✞ ✟ ✓ ✠ ✟ ✍ ❸ ✝ ✂ ✗ ✌ ✟ ☎ ✡ ☎ ☛ ✔ ✥ ☎ ✆ ☎ ✓ ☎ ☛ ✔ ✂ ✙ ✓ ✠ ✟ ❥ ✍ ✂ ✗ ✠ ✍ ✍ ✠ ✟ ✒ ☎ ✡ ✠ ✍ ✙ ✞ ✟ ✠ ✄ ✌ ✞ ✟ ✓ ✍ ✣ ✠ ❻ ✔ ❻ ✔ ✝ ✂ ✟ ✂ ☛ ✓ ✠ ✠ ✍ ✤ ✽ ✾ ✿ ❀ ❆ ❀

■

❆ ❁ ✿ ❃ ❊ ❂ ❈ ❀ ✿ ❷

❀

❂ ❅ ❋ ❑ ❋ ❀ ■ ✿ ❄ ✿ ❅ ❅

❅

❀ ❄ ✿ ❉

▲

♣ ◆

SLIDE 15 ❸ ☎ ✟ ✠ ✡ ✓ ✖ ✂ ☛ ✍ ✞ ☛ ✠ ✄ ✌ ✞ ✟ ✓ ✍ ✞ ✟ ✟ ✠ ✙ ✠ ✟ ✟ ✂ ✗ ✞ ✖ ✗ ☎ ✔ ✂ ✓ ☎ ✞ ☛ ✍ ❹ ✠ ☛ ✂ ✗ ☎ ❺ ☎ ☛ ✔ ✠ ✄ ✌ ✞ ✟ ✓ ✠ ✟ ✍ ❸ ✝ ✂ ✗ ✌ ✟ ☎ ✡ ☎ ☛ ✔ ✥ ☎ ✆ ☎ ✓ ☎ ☛ ✔ ✂ ✙ ✓ ✠ ✟ ❥ ✍ ✂ ✗ ✠ ✍ ✍ ✠ ✟ ✒ ☎ ✡ ✠ ✍ ✙ ✞ ✟ ✠ ✄ ✌ ✞ ✟ ✓ ✍ ✣ ✠ ❻ ✔ ❻ ✔ ✝ ✂ ✟ ✂ ☛ ✓ ✠ ✠ ✍ ✤ ✢ ✞ ☛ ✓ ✟ ✞ ✗ ✗ ☎ ☛ ✔ ✗ ✞ ✡ ✂ ✓ ☎ ✞ ☛ ✍ ✞ ✙ ✂ ✝ ✓ ✛ ✞ ✟ ☎ ❺ ✠ ☞ ✟ ✠ ✍ ✠ ✗ ✗ ✠ ✟ ✍ ✐ ☛ ✓ ✟ ✂ ❥ ✔ ✟ ✞ ✝ ✌ ✟ ✠ ✙ ✠ ✟ ✟ ✂ ✗ ✍ ✽ ✾ ✿ ❀ ❆ ❀

■

❆ ❁ ✿ ❃ ❊ ❂ ❈ ❀ ✿ ❷

❀

❂ ❅ ❋ ❑ ❋ ❀ ■ ✿ ❄ ✿ ❅ ❅

❅

❀ ❄ ✿ ❉

▲

♣ ❪

SLIDE 16 ❸ ☎ ✟ ✠ ✡ ✓ ✖ ✂ ☛ ✍ ✞ ☛ ✠ ✄ ✌ ✞ ✟ ✓ ✍ ✞ ✟ ✟ ✠ ✙ ✠ ✟ ✟ ✂ ✗ ✞ ✖ ✗ ☎ ✔ ✂ ✓ ☎ ✞ ☛ ✍ ❹ ✠ ☛ ✂ ✗ ☎ ❺ ☎ ☛ ✔ ✠ ✄ ✌ ✞ ✟ ✓ ✠ ✟ ✍ ❸ ✝ ✂ ✗ ✌ ✟ ☎ ✡ ☎ ☛ ✔ ✥ ☎ ✆ ☎ ✓ ☎ ☛ ✔ ✂ ✙ ✓ ✠ ✟ ❥ ✍ ✂ ✗ ✠ ✍ ✍ ✠ ✟ ✒ ☎ ✡ ✠ ✍ ✙ ✞ ✟ ✠ ✄ ✌ ✞ ✟ ✓ ✍ ✣ ✠ ❻ ✔ ❻ ✔ ✝ ✂ ✟ ✂ ☛ ✓ ✠ ✠ ✍ ✤ ❹ ✟ ✞ ✙ ☎ ✓ ✍ ✛ ✂ ✟ ☎ ☛ ✔ ❹ ✟ ✞ ☞ ✝ ✡ ✓ ☞ ☎ ✙ ✙ ✠ ✟ ✠ ☛ ✓ ☎ ✂ ✓ ☎ ✞ ☛ ✥ ☎ ✆ ☎ ✓ ☎ ☛ ✔ ✍ ✝ ✌ ✌ ✗ ☎ ✠ ✍ ✓ ✞ ✗ ✞ ✡ ✂ ✗ ☞ ✠ ✆ ✂ ☛ ☞ ✢ ✞ ☛ ✓ ✟ ✞ ✗ ✗ ☎ ☛ ✔ ✗ ✞ ✡ ✂ ✓ ☎ ✞ ☛ ✍ ✞ ✙ ✂ ✝ ✓ ✛ ✞ ✟ ☎ ❺ ✠ ☞ ✟ ✠ ✍ ✠ ✗ ✗ ✠ ✟ ✍ ✐ ☛ ✓ ✟ ✂ ❥ ✔ ✟ ✞ ✝ ✌ ✟ ✠ ✙ ✠ ✟ ✟ ✂ ✗ ✍ ✽ ✾ ✿ ❀ ❆ ❀

■

❆ ❁ ✿ ❃ ❊ ❂ ❈ ❀ ✿ ❷

❀

❂ ❅ ❋ ❑ ❋ ❀ ■ ✿ ❄ ✿ ❅ ❅

❅

❀ ❄ ✿ ❉

▲

♣ ❫

SLIDE 17 ❸ ☎ ✟ ✠ ✡ ✓ ✖ ✂ ☛ ✍ ✞ ☛ ✠ ✄ ✌ ✞ ✟ ✓ ✍ ✞ ✟ ✟ ✠ ✙ ✠ ✟ ✟ ✂ ✗ ✞ ✖ ✗ ☎ ✔ ✂ ✓ ☎ ✞ ☛ ✍ ❹ ✠ ☛ ✂ ✗ ☎ ❺ ☎ ☛ ✔ ✠ ✄ ✌ ✞ ✟ ✓ ✠ ✟ ✍ ❸ ✝ ✂ ✗ ✌ ✟ ☎ ✡ ☎ ☛ ✔ ✥ ☎ ✆ ☎ ✓ ☎ ☛ ✔ ✂ ✙ ✓ ✠ ✟ ❥ ✍ ✂ ✗ ✠ ✍ ✍ ✠ ✟ ✒ ☎ ✡ ✠ ✍ ✙ ✞ ✟ ✠ ✄ ✌ ✞ ✟ ✓ ✍ ✣ ✠ ❻ ✔ ❻ ✔ ✝ ✂ ✟ ✂ ☛ ✓ ✠ ✠ ✍ ✤ ❹ ✟ ✞ ✙ ☎ ✓ ✍ ✛ ✂ ✟ ☎ ☛ ✔ ❹ ✟ ✞ ☞ ✝ ✡ ✓ ☞ ☎ ✙ ✙ ✠ ✟ ✠ ☛ ✓ ☎ ✂ ✓ ☎ ✞ ☛ ✥ ☎ ✆ ☎ ✓ ☎ ☛ ✔ ✍ ✝ ✌ ✌ ✗ ☎ ✠ ✍ ✓ ✞ ✗ ✞ ✡ ✂ ✗ ☞ ✠ ✆ ✂ ☛ ☞ ✢ ✞ ☛ ✓ ✟ ✞ ✗ ✗ ☎ ☛ ✔ ✗ ✞ ✡ ✂ ✓ ☎ ✞ ☛ ✍ ✞ ✙ ✂ ✝ ✓ ✛ ✞ ✟ ☎ ❺ ✠ ☞ ✟ ✠ ✍ ✠ ✗ ✗ ✠ ✟ ✍ ✐ ☛ ✓ ✟ ✂ ❥ ✔ ✟ ✞ ✝ ✌ ✟ ✠ ✙ ✠ ✟ ✟ ✂ ✗ ✍ ✽ ✾ ✿ ❀ ❆ ❀

■

❆ ❁ ✿ ❃ ❊ ❂ ❈ ❀ ✿ ❷

❀

❂ ❅ ❋ ❑ ❋ ❀ ■ ✿ ❄ ✿ ❅ ❅

❅

❀ ❄ ✿ ❉

▲

❼ ❽ ❾ ❿ ❽ ➀ ❾ ❿ ➁ ➂ ➂ ➃ ♣ ❝

SLIDE 18 ❸ ☎ ✟ ✠ ✡ ✓ ✖ ✂ ☛ ✍ ✞ ☛ ✠ ✄ ✌ ✞ ✟ ✓ ✍ ✞ ✟ ✟ ✠ ✙ ✠ ✟ ✟ ✂ ✗ ✞ ✖ ✗ ☎ ✔ ✂ ✓ ☎ ✞ ☛ ✍ ❹ ✠ ☛ ✂ ✗ ☎ ❺ ☎ ☛ ✔ ✠ ✄ ✌ ✞ ✟ ✓ ✠ ✟ ✍ ❸ ✝ ✂ ✗ ✌ ✟ ☎ ✡ ☎ ☛ ✔ ✥ ☎ ✆ ☎ ✓ ☎ ☛ ✔ ✂ ✙ ✓ ✠ ✟ ❥ ✍ ✂ ✗ ✠ ✍ ✍ ✠ ✟ ✒ ☎ ✡ ✠ ✍ ✙ ✞ ✟ ✠ ✄ ✌ ✞ ✟ ✓ ✍ ✣ ✠ ❻ ✔ ❻ ✔ ✝ ✂ ✟ ✂ ☛ ✓ ✠ ✠ ✍ ✤ ❹ ✟ ✞ ✙ ☎ ✓ ✍ ✛ ✂ ✟ ☎ ☛ ✔ ❹ ✟ ✞ ☞ ✝ ✡ ✓ ☞ ☎ ✙ ✙ ✠ ✟ ✠ ☛ ✓ ☎ ✂ ✓ ☎ ✞ ☛ ✥ ☎ ✆ ☎ ✓ ☎ ☛ ✔ ✍ ✝ ✌ ✌ ✗ ☎ ✠ ✍ ✓ ✞ ✗ ✞ ✡ ✂ ✗ ☞ ✠ ✆ ✂ ☛ ☞ ✢ ✞ ☛ ✓ ✟ ✞ ✗ ✗ ☎ ☛ ✔ ✗ ✞ ✡ ✂ ✓ ☎ ✞ ☛ ✍ ✞ ✙ ✂ ✝ ✓ ✛ ✞ ✟ ☎ ❺ ✠ ☞ ✟ ✠ ✍ ✠ ✗ ✗ ✠ ✟ ✍ ✐ ☛ ✓ ✟ ✂ ❥ ✔ ✟ ✞ ✝ ✌ ✟ ✠ ✙ ✠ ✟ ✟ ✂ ✗ ✍ ✽ ✾ ✿ ❀ ❆ ❀

■

❆ ❁ ✿ ❃ ❊ ❂ ❈ ❀ ✿ ❷

❀

❂ ❅ ❋ ❑ ❋ ❀ ■ ✿ ❄ ✿ ❅ ❅

❅

❀ ❄ ✿ ❉

▲

♣ ❞ ➄ ➀ ❾ ➅ ❾ ❿ ➁ ➂ ➂ ➃

SLIDE 19 ➆ ➇ ❾ ➅ ➈ ❾ ❿ ➁ ➂ ➂ ➃ ❸ ☎ ✟ ✠ ✡ ✓ ✖ ✂ ☛ ✍ ✞ ☛ ✠ ✄ ✌ ✞ ✟ ✓ ✍ ✞ ✟ ✟ ✠ ✙ ✠ ✟ ✟ ✂ ✗ ✞ ✖ ✗ ☎ ✔ ✂ ✓ ☎ ✞ ☛ ✍ ❹ ✠ ☛ ✂ ✗ ☎ ❺ ☎ ☛ ✔ ✠ ✄ ✌ ✞ ✟ ✓ ✠ ✟ ✍ ❸ ✝ ✂ ✗ ✌ ✟ ☎ ✡ ☎ ☛ ✔ ✥ ☎ ✆ ☎ ✓ ☎ ☛ ✔ ✂ ✙ ✓ ✠ ✟ ❥ ✍ ✂ ✗ ✠ ✍ ✍ ✠ ✟ ✒ ☎ ✡ ✠ ✍ ✙ ✞ ✟ ✠ ✄ ✌ ✞ ✟ ✓ ✍ ✣ ✠ ❻ ✔ ❻ ✔ ✝ ✂ ✟ ✂ ☛ ✓ ✠ ✠ ✍ ✤ ❹ ✟ ✞ ✙ ☎ ✓ ✍ ✛ ✂ ✟ ☎ ☛ ✔ ❹ ✟ ✞ ☞ ✝ ✡ ✓ ☞ ☎ ✙ ✙ ✠ ✟ ✠ ☛ ✓ ☎ ✂ ✓ ☎ ✞ ☛ ✥ ☎ ✆ ☎ ✓ ☎ ☛ ✔ ✍ ✝ ✌ ✌ ✗ ☎ ✠ ✍ ✓ ✞ ✗ ✞ ✡ ✂ ✗ ☞ ✠ ✆ ✂ ☛ ☞ ✢ ✞ ☛ ✓ ✟ ✞ ✗ ✗ ☎ ☛ ✔ ✗ ✞ ✡ ✂ ✓ ☎ ✞ ☛ ✍ ✞ ✙ ✂ ✝ ✓ ✛ ✞ ✟ ☎ ❺ ✠ ☞ ✟ ✠ ✍ ✠ ✗ ✗ ✠ ✟ ✍ ✐ ☛ ✓ ✟ ✂ ❥ ✔ ✟ ✞ ✝ ✌ ✟ ✠ ✙ ✠ ✟ ✟ ✂ ✗ ✍ ✽ ✾ ✿ ❀ ❆ ❀

■

❆ ❁ ✿ ❃ ❊ ❂ ❈ ❀ ✿ ❷

❀

❂ ❅ ❋ ❑ ❋ ❀ ■ ✿ ❄ ✿ ❅ ❅

❅

❀ ❄ ✿ ❉

▲

♣ ❡ ➆ ➇ ➆ ➇ ➆ ➇ ➆ ➇ ➆ ➇ ➆ ➇ ➆ ➇ ➆ ➇ ➆ ➇ ➆ ➇ ➆ ➇ ➆ ➇ ➆ ➇ ➆ ➇ ➆ ➇ ➆ ➇ ➆ ➇ ➆ ➇ ❾ ➅ ➈ ➅ ➈ ➅ ➈ ➈ ➅ ➈ ➅ ➈ ➅ ➈ ➅ ➈ ➅ ➈ ➅ ➈ ➅ ➈ ➅ ➈ ➅ ➈ ➅ ➈ ➅ ➈ ❾ ❿ ➁ ❿ ➁ ❿ ➁ ❿ ➁ ❿ ➁ ❿ ➁ ❿ ➁ ❿ ➁ ❿ ➁ ❿ ➁ ❿ ➁ ❿ ➁ ❿ ➁ ❿ ➁ ❿ ➁ ❿ ➁ ❿ ➁ ❿ ➁ ❿ ➁ ➂ ➂ ➃ ➂ ➃ ➂ ➃ ➂ ➃ ➂ ➃ ➂ ➃ ➂ ➃ ➂ ➃ ➂ ➃ ➂ ➃ ➂ ➃ ➂ ➃ ➂ ➃ ➂ ➃ ➂ ➃ ➂ ➃ ➂ ➃ ➂ ➃ ➂ ➃